Business activities list

This article first appeared in The Edge Malaysia Weekly, on June 20, 2022 - June 26, 2022. - A + A IF Bank Negara Malaysia’s eight-member monetary policy committee (MPC) raises the overnight policy rate (OPR) by 25 basis points (bps) at its next scheduled meeting on July 6, it will mark its first back-to-back increase since mid-2010, when interest rates were normalised following the recovery from the 2008 global financial crisis. It will not be the first central bank to do so. Compared with just a month ago, more economists now (at the time of writing) reckon that a 25bps hike will happen in July, but many still think a pause is possible in July ahead of the Hari Raya Aidiladha celebrations. In any case, at least one more rate increase (if not two) is expected to take place by the conclusion of the Sept 8 meeting to bring the OPR to at least 2.25% (if not 2.5%), consensus data show. “Our house has also shifted expectations for Bank Negara to frontload … [Read more...] about The State Of The Nation: What the Fed’s 75bps hike and near 4% terminal rate mean for the OPR

Net profits of manufacturing companies surged by 50.2 percent during 2021-22, the input cost pressures notwithstanding, the Reserve Bank of India said on Friday. Net profit also increased for the information technology (IT) companies, whereas the non-IT services sector continued to record losses at the aggregate level, it said. The data on the performance of the private corporate sector during 2021-22 drawn from abridged financial results of 3,166 listed non-government non-financial (NGNF) companies. Operating profit margins remained healthy for all the three sectors. Net profit margins remained stable for manufacturing and IT companies, whereas it remained in the negative terrain for non-IT services companies. The data further showed that private corporate sales and profitability recorded healthy growth in during 2021-22 as the effects of the Covid-19 pandemic subsided and economic activities recovered, especially in the second half of the year. "Sales of 1,865 listed private … [Read more...] about Manufacturing companies see 50.2% surge in FY22 net profit despite costly raw materials

- A + A SINGAPORE (June 27): Mirxes Pte, a Singapore-based biotechnology startup, is weighing an initial public offering in the city-state next year that could raise about US$300 million, according to people with knowledge of the matter. The company is in discussions with bankers about a potential offering that could value it at over US$1 billion, said the people, who asked not to be identified as the process is private. Deliberations are ongoing and Mirxes could decide not to proceed with the offering, said the people. Calls and emails to Mirxes seeking comment were not returned. Any listing would help to further stimulate the IPO market in Singapore. First-time share sales in the city-state totaled US$348 million so far this year, up from US$242 million in the same period last year, according to data compiled by Bloomberg . Founded in 2014 as a spinoff from Singapore’s Agency for Science, Technology and Research, also known as A*STAR, Mirxes focuses on early … [Read more...] about Biotech startup Mirxes said to weigh US$300 mil Singapore IPO

Datuk Seri Dr Noraini Ahmad - A + A KUALA LUMPUR (June 27): Malaysia is still the preferred choice for international students to further their studies, said Higher Education Minister Datuk Seri Dr Noraini Ahmad. She said  although the number of applications to further studies in Malaysia has declined slightly following the Covid-19 pandemic, the situation improved in 2021 as the number rose again to up to 32%. "The situation was strengthened when Kuala Lumpur was ranked second in the QS Top Universities 'Most Affordable City for Students' for the year 2018 and 2019. In other words, the tuition costs are affordable," she said at Education Malaysia Global Services (EMGS) 10th anniversary dinner here on Monday (June 27) night. Noraini added that there were several factors that could attract and encourage more foreign students to study in the country, such as the quality of education which is recognised as world-class. “QS World University Rankings in its report … [Read more...] about Malaysia continues to be the preferred choice for international students, says Noraini

Representative Image The Reserve Bank of India (RBI) on June 23 issued draft guidelines for outsourcing of information technology (IT) services by lenders. The underlying principle of these guidelines is that the regulated entities must ensure that their outsourcing arrangements neither diminish their ability to fulfil their obligations to customers nor impede effective surveillance by the supervising authority, the central bank said. Through this explainer, Moneycontrol answers five key questions on why the regulator had to issue the new guidelines. What do the draft guidelines say? As per draft norms, lenders must consider all relevant laws, regulations, guidelines and conditions of approval while performing its due diligence during outsourcing of IT services. They should identify the list of services provided by the third-party service provider, including key entities involved in their supply chains. Lenders must also map their dependency on other parties and … [Read more...] about Explained: Why did RBI come out with new draft norms for IT services outsourcing by banks?